Securities and Futures (Exemption from Requirement to Hold Representative’s Licence) Regulations

Status:

Revised Edition
published on 29 Feb 2004

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Securities and Futures Act

(Chapter 289, Section 83(2)(b)¹)

¹with effect from the commencement of the Securities and Futures (Amendmen) Act 2003 (Act 16/2003), exemptions will no longer be made by regulations but by notice in writing.

Securities and Futures (Exemption from Requirement to Hold Representative’s Licence) Regulations

Rg 14

G.N. No. S 269/2003

REVISED EDITION 2004

(29th February 2004)

[29th February 2004]

Citation

1. These Regulations may be cited as the Securities and Futures (Exemption from Requirement to Hold Representative’s Licence) Regulations.

Exemption

2.—(1) Any person, who acts as a representative of a person specified in the Third Schedule to the Act (other than a person specified in regulation 8(1) of that Schedule), shall be exempted from the requirement to hold a representative’s licence, in so far as —

(a)	the type of regulated activity carried out by the first-mentioned person is the same as that carried out by the second-mentioned person; and
(b)	the scope and manner of carrying out the regulated activity by the first-mentioned person is the same as the scope and manner of carrying out the regulated activity by the second-mentioned person,

where such type, scope or manner (as the case may be) is specified in the Third Schedule to the Act.

(2) Any person, who acts as a representative of a person specified in regulation 8(1) of the Third Schedule to the Act (other than a person specified in sub-paragraph (b) of that paragraph), shall be exempted from the requirement to hold a representative’s licence for dealing in securities in so far as he deals in securities when acting as such representative.

[G.N. No. S 269/2003]